Sunny International terminates acquisition of spectacle frames

On the 13th of the month, according to a report from Caihua News Agency, Sunny International (01046) revealed that its wholly-owned subsidiary, Hong Kong Entertainment Culture, did not finalize an agreement to trade the equity of the target company during the exclusive period. As a result, the company issued a termination notice, and the memorandum of understanding was immediately canceled. The Group stated that this development has no material adverse impact on its operations. Earlier, the company had announced the signing of a non-binding memorandum of understanding to acquire all or part of the equity in the Target Company. The Target Group specializes in the production, supply, and distribution of spectacle frames and other optical products. This update highlights the ongoing developments in the optical industry, as companies continue to explore strategic opportunities for growth and expansion. For more information on the latest trends and market updates in the optical frame sector, visit the China Optical Frame Trading Network. You can also take advantage of their free trial to explore the platform and stay updated with the latest industry news.

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